First Western Capital Management Co decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,145 shares of the asset manager’s stock after selling 169 shares during the period. BlackRock makes up about 2.6% of First Western Capital Management Co’s portfolio, making the stock its 11th largest position. First Western Capital Management Co’s holdings in BlackRock were worth $4,285,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Waldron LP raised its stake in BlackRock by 108.2% in the first quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock valued at $446,000 after buying an additional 605 shares during the last quarter. Van Cleef Asset Management Inc raised its stake in BlackRock by 1.6% in the first quarter. Van Cleef Asset Management Inc now owns 3,237 shares of the asset manager’s stock valued at $1,241,000 after buying an additional 50 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its stake in BlackRock by 57.9% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 2,384 shares of the asset manager’s stock valued at $914,000 after buying an additional 874 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in BlackRock by 4.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 53,432 shares of the asset manager’s stock valued at $20,492,000 after buying an additional 2,295 shares in the last quarter. Finally, Country Trust Bank raised its stake in BlackRock by 1.4% in the first quarter. Country Trust Bank now owns 94,944 shares of the asset manager’s stock valued at $36,412,000 after buying an additional 1,280 shares in the last quarter. 80.33% of the stock is owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE BLK) opened at 415.94 on Friday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.83. The firm has a 50-day moving average price of $427.03 and a 200 day moving average price of $402.50. The company has a market capitalization of $67.47 billion, a P/E ratio of 19.96 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business earned $4.78 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
Several research firms recently issued reports on BLK. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Morgan Stanley reissued an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Wells Fargo & Company reissued a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Deutsche Bank AG increased their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a report on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $443.00.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. Insiders sold a total of 3,272 shares of company stock valued at $1,364,526 over the last ninety days. 1.86% of the stock is currently owned by company insiders.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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